President Donald Trump suggested on Friday that an 80% tariff on Chinese imports “seems right,” ahead of high-stakes trade talks scheduled for this weekend in Switzerland. The comment, made via a Truth Social post, signals a potentially aggressive US stance just days before formal negotiations between the two countries.“80% Tariff…
To accelerate the UK’s energy transition and efficiently increase capacity, King Charles III’s Crown Estate, owner of Britain’s seabed, has approved the expansion of high-density wind farms on existing seabed leases.The Capacity Increase Programme aims to add 4.7 gigawatts of capacity through seven projects, according to a Reuters report. These…
CoreWeave, the fast-growing US-based AI data centre company, is planning to raise at least $1.5 billion in fresh debt to refinance a portion of its sizeable liabilities and support further investment, just weeks after a subdued public market debut, the Financial Times reported. The New Jersey-headquartered company is working with…
India is preparing to cut its average tariff differential with the US by nearly 9 percentage points—bringing it down from 13% to under 4%—in a major step toward securing exemptions from President Donald Trump’s current and potential tariff hikes. The sweeping proposal, not previously reported in full, represents one of…
Canadian unemployment rose to 6.9% in April, the highest level since November, as US tariffs on major exports started hitting the country’s important manufacturing and trade-dependent parts of the economy, Statistics Canada reported on Friday.The increase in unemployment, with roughly 1.6 million Canadians out of work, shows mounting hurdles in an…
Shares of Expedia Group fell sharply by more than 8.5% on Friday after the company reported first-quarter revenue that came in below Wall Street expectations, signalling a slowdown in US travel demand. The online travel platform posted revenue of $2.98 billion, falling short of the $3.01 billion expected by analysts…
International Airlines Group, the owner of British Airways, has placed a landmark order for 32 long-haul jets from Boeing worth nearly $13bn (£9.8bn), a day after a trade agreement between the UK and US led to the scrapping of tariffs on jet engines.The announcement, made on Friday, comes just a…
Something unusual is happening in global currency markets, and most people aren’t paying attention. This week, the Taiwan dollar surged more than 5% in a single day, recording its biggest jump since 1988. At the same time, Asian banks, exporters, and sovereign funds are increasingly trying to bypass the US dollar in…
CoreWeave, the fast-growing US-based AI data centre company, is planning to raise at least $1.5 billion in fresh debt to refinance a portion of its sizeable liabilities and support further investment, just weeks after a subdued public market debut, the Financial Times reported. The New Jersey-headquartered company is working with…
Panasonic will lay off 10,000 employees in 2025, targeting 5,000 jobs in Japan and another 5,000 overseas. The Osaka-based group, which employs nearly 230,000 people globally, is restructuring its operations after reporting a 17.5% drop in net profit to ¥366 billion for the year ended March 31.The company expects profit…